Profile picture for Josh Reiter

Buyer consultation questions?

Does anyone have a good list of qualifying/consultation questions for buyers?
Maybe one for experienced and one for first time buyers?
I have started a list, but I want to make sure I don't leave anything out.
Thanks.
  • April 16 2014 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (7)

I don't have a list of questions, but there are some things that I want to know before we get started working together.

* What's their timeline?
* What's their budget, and have they talked to a lender about that yet?
* What are they looking for (are their expectations somewhat reasonable)?
* What's their history in home shopping (have they been through several agents already?)
* Are they willing to pay over list price for a property?
* Would they be willing to commit to me as their agent?
* What do they expect from me?

  • April 17 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

As a lender, the three most important things are 1. Assets (down payment) 2. Credit (do they have any past issues with BK, Short sale, foreclosures, etc) 3. Income- What kind of house they can afford. That will give you the basics, but the best thing you could do is have a lender "pre-approve" your buyer so you know for sure if they can qualify or not. If you need any help with getting a better list together, give me a call, I do multiple pre-approvals a day and would love to help you out.
  • April 16 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Certainly questions about budget but I agree, I don't try to qualify the buyers for a loan - I refer them to someone who can assist with that.

Regarding consultation questions...
What are the must-have features of their next home?
What's most important about their future neighborhood?
What's most important to them about the process?
  • April 16 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hi Josh,

I would explain the current market and ask 'are you ready to speak with a mortgage professional to determine your purchasing power?' And have a preferred lender on speed dial. If they are not ready to get pre-qualified, they are not ready to buy.
  • April 16 2014
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I agree with Tim. Realtors are not licensed loan originators and cannot "qualify" a buyer.  I do always ask if they've been pre-qualified, or pre-approved with a lender.  If they say yes, then I ask for the lender's info.  If no, then I refer them to a few lenders.  I may go ahead and show them a few houses, to get to know them, their wants/needs, and to develop a rapport with them. But I won't take them out again until I get that pre-approval.
  • April 16 2014
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
Share your list and I'm sure many would have suggestions or additions.   

  • April 16 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Are you a Realtor or wanna be lender? You are going to ask questions to a buyer and then disqualify them? I leave that to the lenders to do since it is what they do so well. I don't pretend to know a buyers borrowing ability so I send them to a good lender to be qualified.
  • April 16 2014
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.